Supporting Select Customers During COVID-19
This page contains helpful information about financial hardship options available to our customers, and updates on the impact the pandemic has on Select Home Loan's operations.
To our Valued Customers:
As we witness the continued spread of the global COVID-19 pandemic, doing what we can to support the health and safety of our employees, customers, business partners, and the wider community are of the utmost priority to us. We are closely monitoring communications from district health boards and the government, to help us respond quickly and appropriately to support this.
We understand that these challenging times will impact many of our customers in a variety of ways. For those who are having difficulty maintaining their loan repayments, we encourage you to reach out to your mortgage adviser, or directly via the channels listed below.
For all of us, this is a period of uncertainty, but you can be confident that our dedication to you remains unchanged. We will continue to communicate clearly and transparently to ensure you remain updated.
Sincerely,
Peter Wood
Managing Director, Bluestone New Zealand
Brendon Smith
CEO, NZ Financial Services Group
Financial Hardship Assistance
We understand the current situation makes it difficult for some customers to meet their home loan repayments. Select has a long history of supporting customers experiencing financial hardship, and we have a range of options to support customers impacted by COVID-19.
Some of these options may include:
- Accessing any funds you have built up in your redraw facility to cover payments
- Payment arrangements, whereby we can spread upcoming repayments over future months to cover a short term cash flow issue
- Partial payments, whereby you temporarily pay a lower amount on your home loan
- Repayment holiday, whereby we will suspend your repayments for a period of time
- As a last resort, if you decide to sell your property, we can offer a range of options to help with this process too, which could include suspended payments for 3 months for eligible customers
A Select Hardship team member will be able to discuss the above options and your personal situation with you, and make an assessment based on information you have provided. Once a hardship arrangement is in place, we may conduct reviews during the assistance period.
We understand that financial hardship can be distressing for our customers, and want to assure you that we are here to assist you, free of judgement. If you are experiencing difficulty, we encourage you to reach out as soon as you can. The sooner you speak to us, the sooner we can help - and the more options may be available to you.
However, please note that our team is currently experiencing a very high volume of enquiries. If you are currently not directly impacted, we ask that you hold off on contacting us directly so we can better assist our customers in immediate need. We encourage all Select customers to contact their mortgage adviser in the first instance with all enquiries. We have also collated a list of links and resources at the bottom of this page, which may be able to help if you are concerned about your financial situation.
If you would like to discuss the options available to you, please press the button below to get in touch.
CHANGES TO PHONE SUPPORT SERVICE
In order to protect our employees, and to do our part to minimise the spread of the virus in our communities, all Select employees are working from home for the foreseeable future.
To support this transition, we will be changing our phone support hours for all customers to 8.30am-5pm. Customers are encouraged to contact their mortgage adviser with any enquiries, and can also reach out via email at nzcustomerservice@select.bluestone.net.nz
Please also note that longer wait times may apply on our phone lines during this time. We appreciate your patience and understanding.
Helpful Links
Unite against COVID-19 - A central resource by the New Zealand government with up-to-date information for individuals and businesses, as well as tips for slowing the spread.
Q&A on coronaviruses (COVID-19) - A collection of frequently asked questions about the virus and its impact, answered by the World Health Organisation (WHO).
Novel coronavirus explainer video - A clear and detailed explanation of the virus by the WHO, covering origins to symptoms and prevention.